A new study shows gender equality remains elusive for female MBAs.
Business schools linked to HCBUs are seeing a surge in applications—but not necessarily from African-American applicants. Meanwhile, gender equality remains an uphill battle when it comes to income and influence. Read trending stories for future business leaders.
MBA gender equality
A troubling new report from the Graduate Management Admission Council finds that despite earning the same MBA degree as their male counterparts, women lag far behind in terms of earnings and status. The white paper released last week finds that female MBAs earn, on average, $400,000 less than males. Additionally, they are outnumbered 4:1 in the C-suite. It’s important to note that many of the people featured in this study on gender equality graduated decades ago, when the business landscape for women was somewhat different. Alex Chisholm, senior director of research services at GMAC, explains: “Many of the current female leaders in business went to school in the late 1970s and early 1980s. Back then only 4% of grad management degrees were granted to women. It was almost nothing. It’s closer to 50% today. Our hope is that as these recent grads with business training work through their careers, they will chip away at the glass ceiling.” Some good news on the gender equality front: Recent data show that women make up nearly 45% of all GMAT takers—the highest percentage ever. (Poets & Quants)
MBAs at HBCUs
New figures show that enrollment at business schools associated with historically black colleges and universities (HBCUs) are up double digits over the past couple of years. That’s not necessarily because they’ve seen an influx of African-American students. Many report that the increases they’re seeing are due to international students. Saudi Arabia currently sends the highest number of students to HBCU MBA programs.”We have a nice pipeline of Saudi students,” said the director of the master’s program at Morgan State University Graves School of Business and Management. (U.S. News & World Report)
Hiring at Amazon
As readers of this blog know, the number of newly graduated MBAs are flocking to the tech sector, particularly to those storied companies in Silicon Valley like Facebook, Google, and Microsoft. There was a time when these tech giants felt like they had an invisible “MBAs need not apply” sign on their recruiting offices. That has changed, particularly at e-commerce titan Amazon, which now hires twice the number of business school graduates as its competitors. “Our MBA hires have been growing every year for the past five years and we hope to continue that trend,” says Miriam Park, Amazon’s director of university recruiting. What do they look for in new hires? A track record of success, says Park. What you’ve done is more important than where you’ve been, she adds. (BusinessBecause)
Fundraising crosses the pond
One of the most unpleasant parts of being a business school dean—as deans themselves will tell you—is fundraising. Asking people for money is a humbling experience. It’s also a necessary part of the job, and when it’s done well it can mean millions of dollars more in financial assistance for students, in addition to better buildings and infrastructures. For the longest time, this kind of fundraising was limited to American business schools. Not anymore. European business schools are getting in on the action, but none have done it so successfully as top-ranked INSEAD. It’s just one of a few business schools worldwide that has secured donations of seven digits or more this year. (Financial Times)
Your admissions essay
Your MBA admissions essays is one of the major pieces of your application that’s not already baked in the cake by the time you apply—unlike, for instance, your undergraduate GPA and work experience. It’s one of your best chances to show top schools why you “belong” there and why you are a “must-have.” Two really important things to keep in mind: Follow directions and be brief. That latter point is key, as many business schools have significantly slashed the word count on their admissions essay requirements over the past few years. “We prioritize communicating in a clear, concise, compelling way, and shortening or having fewer essays really forces applicants to reflect on what they want to share,” says Kate Smith, assistant dean of admissions and financial aid at Northwestern University’s Kellogg School of Management. (U.S. News & World Report)
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